Job 4-5  Eliphaz speaks to Job first.  He is probably the oldest of the group and would have the most authority.  Yet, he is not correct about Job.  His philosophy is simple.  Troubles come because of sin.
Therefore Job, who has suffered greatly, must have sinned greatly.  If Job would just repent, everything would be great again.  Period.

I always struggle with these passages.  These words are contained in THE WORD of God.  How do we treat it... is it truth?  But, it is not really, is it?  For we know that troubles come to all men at one time or another and it is not always because of sin.  Job's troubles had nothing to do with sin.  Not that he was perfect, but in this case God had allowed this from Satan.

But also, there are some truths that we can find here. Job 5:8-10 " But as for me, I would seek God, and I would place my cause before God; Who does great and unsearchable things, wonders without number, He gives rain on the earth and sends water on the fields... "  This is true.  So in some ways Eliphaz did have knowledge of the Lord. Also, it is true that God disciplines His children.  It is true that He restores souls and redeems our lives.

So, I go back to the 3 questions.

What does this passage teach us about the Lord?  I would say that it shows us that God is beyond our understanding and greater than our philosophies.

What encouragement can we gain from this passage?   We can be encouraged that God knows the truth.  He knows our hearts.  He looks beyond our circumstances.  No matter what others may say.
He will defend us.

What actions of obedience should we do in light of this passage?  We must be careful not to judge others because of their circumstances.  We must not be rigid in our own philosophies and understandings,  but  seek the Lord and give Him charge over our words.

Father,  speak into our hearts today, in the midst or our circumstances, and lead us in Your ways.  Fill us Holy Spirit with love and grace towards others, for the sake of our Lord Jesus and the glory of the Father, amen.